a goldie of a deal., page-9

Hey Rod.
The $10m from X was on the release and excepts of the BFS and 90 days, which to date has never happened. You have to wonder when X new something didn't smell right.

From the court ruling.

[56] Bengwenyama Minerals and the Community only became aware of the decision to award prospecting rights over the farms on 6 December 2006. They asked for a record of the application from the Department in December 2006 and the record was provided on 17 January 2007. On 13 February 2007 they lodged an internal appeal in terms of section 96 of the Act. They added additional grounds of appeal on 9 March 2007. While waiting for a response they launched proceedings to interdict Genorah from proceeding with prospecting operations on the farms on 22 March 2007. The response from the Department only came four months later in a letter that informed them that the Minister was not in a position to decide the appeal and that the matter should be decided by way of review proceedings. They launched the review proceedings on 22 August 2007.


This is what DME told Bengwenyama Minerals and the Community to do.
From the letter.
"You are hereby advised that since this matter is now sub judice, the Minister will not be in a position to decide on your appeal in this matter. The fact that a right has already been granted to Genorah also poses a legal challenge in deciding on the appeal, and it is therefore the view of this Department that this matter should be decided by means of a review."

Ruling
There is no indication that the application was not considered for want of an application for condonation, nor is there any indication that anything other than a review of the original decision would bring the Department to change that decision to award prospecting rights to Genorah. In effect the Department advised Bengwenyama Minerals and the Community to seek a review and not to prosecute their appeal.

Here's the bit I have been looking for.
From the ruling.
While waiting for a response they launched proceedings to interdict Genorah from proceeding with prospecting operations on the farms on 22 March 2007.

Sooooooo International goldfields decided to farm in to Farms that had a court order on them to prevent prospecting. in Sept 19 2007.
And lease then a year later did a deal for $60m to sell them back to NKP with order still in place and court action under way to take the permits back.;o

Hey but the fact that they where not aloud to drill, didn't stop them putting out drill updates for Nooitverwacht and Eerste Geluk. right up to 5 May 2008.

Looks all very good when you read this.
14 March 08
10 drill rigs have been drilling at the company?s projects, located adjacent to and contiguous with Anglo Platinum?s Modikwa mine, since February 2007. This first phase
drilling program and the results achieved to date will be used to delineate a maiden JORC resource
5 may 08
As referred to above, IGC/Genorah are still awaiting final assay results for 21 holes from the Merensky reef and 16 from UG2, which represents 45 - 55% of the data from the current exploration programme.


And then a table with.
EST 012, EST 018 EST 019
NVT 002, NVT 005.

EST=Eerste Geluk
NVT=Nooitverwacht

But when you start looking at the tables from 22 Oct 07 to May 5 2008 you will see that these numbers repeated over different drill updates.

I have only counted 12 different holes in the tables supplied from the "drill updates" They say they have done 30.

Heres the real clever bit. The resource 12.4Moz 5 May 08 to 20.4Moz on update 3 July 08. WOW. Must of had a big back log of cores I guess cause they sure wan't drilling.

So this bit from BS looks like it has some traction.

The two southern properties, Eerstegeluk and Nooitverwacht, are the richest in the five properties claimed by Nkwe, and form the rest of the Tubatse project. What Nkwe has totally failed to tell shareholders is that in 2007 Genorah was court-interdicted from accessing the two properties.
The interdict was ignored: the Bengwenyama went back to court and asked that the directors of Nkwe and Genorah be imprisoned, on contempt of court charges. Nkwe played innocent and dumb, even though its CEO, Maredi Mphahlele, is a director of both companies (and apparently holds 15% of Genorah).
Finally, by the end of 2007, Genorah removed all of its equipment and people from the two properties. Neither the equipment nor the people have ever been back, but Nkwe has created the illusion that the properties are being evaluated on an industrial scale. The Australian Stock Exchange was formally availed of the situation in 2009 and, in the great tradition of great regulators, did nothing.

Again. They has never been an announcement about the drilling being stopped on Nooitverwacht and Eerste Geluk.

P.s Stagman. This is going straight to ASIC. If it's put in writing, they have to investigate. While they are at it, they can ask ASX why they did nothing if they where informed in 2009. Could have saved us a lot of time and money.

FYI check out the Range resources Thread. RRS. 1 of PL(ayers) other company's. See what they think of the golden boy.Watch the video and lesson to the promises.